Get started with Bitcoin

Are you new to Bitcoin, blockchain and cryptocurrencies in general? Learn the essentials with out simple explained articles, glossary posts and step-by-step tutorials.

Previously, in order to send money to a person who is in a different location, you had to use banks or other money transfer services to make the transaction. The open-source decentralized Bitcoin network, allows its users to transact directly, peer-to-peer, without an intermediary. Bitcoin is a revolutionary new payment network and a new form of money.

Unlike traditional currencies like the Euro or the US-Dollar, there is no government, institution or other central third party that oversees the issuance and circulation of Bitcoin. All Bitcoin transactions are recorded in one public ledger, that is stored on millions of computers around the globe. This public Bitcoin ledger serves to protect against various types of financial fraud like duplicate payments or chargebacks.

Bitcoin is more efficient than any existing payment network and enables secure financial transactions at dramatically lower costs. Bitcoin can be used just like other currencies or assets in exchange for goods or services. However, compared to traditional assets, Bitcoin is extremely easy to transfer, divisible, and Bitcoin transactions are irreversible. Without the need of a costly intermediary, fees for sending or receiving Bitcoin are extremely small and you can send your Bitcoin to anybody, anywhere on the globe. Thus, Bitcoin enables micro or cross-border payments and giving its users real financial freedom.

Users store their Bitcoin in a digital, non-custodial wallet that is very similar to a bank account. However, no institution, government or third party is able to lock you out of your funds. Your Bitcoin wallet is also used to receive or send payments. You become your own bank.

Bitcoin connects millions of people around the globe and democratizes the financial world. Bitcoin improves global financial inclusion by allowing anyone to send and receive digital payments anywhere in the world at any time, even when traditional payment networks such as banks or other service providers are not available.

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